UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 6-K
Report of
Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16
UNDER the
Securities Exchange Act of 1934
For the month of January, 2023
Commission File Number: 001-39766
ORLA MINING LTD.
(Translation of registrant's name into English)
Suite 202, 595 Howe Street
Vancouver, British Columbia,
V6C 2T5, Canada
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F ☐ Form 40-F ☒
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
ORLA MINING LTD.. |
|
|
Date: January 31, 2023 |
|
/s/ Etienne Morin |
|
Name: Etienne Morin
Title: Chief Financial Officer
|
|
|
EXHIBIT INDEX
Exhibit 99.1
Orla Mining Continues to Intersect Wide, Higher-Grade
Sulphide Zones and Expose Deeper Potential at Camino Rojo, Mexico
4.66 g/t Au over 64.0 m (Sulphide
Zone), 4.02 g/t Au & 1.5% Zn over 22.9 m (Deep Potential), Regional Program Ramping Up with Encouraging Results.
VANCOUVER, BC, Jan. 31, 2023 /CNW/ - Orla Mining
Ltd. (TSX: OLA) (NYSE: ORLA) ("Orla" or the "Company") is pleased to provide an update on its 2022 exploration
activities at Camino Rojo and provide an overview of its 2023 exploration plans in Mexico. Updates on Orla's exploration activities in
Nevada, US and Panama will be provided in the first quarter.
2022 Exploration Highlights: Camino Rojo (Mexico)
Camino Rojo Sulphides: The Sulphide drill
program continued to return higher-grade gold intercepts (>2 g/t) over wide widths (>30 m). Notable results include:[1]
- Hole CRSX22-09B: 4.66 g/t Au over 64.0 m
- Hole CRSX22-09A 2.76 g/t Au over 79.0 m, incl. 3.22 g/t
Au over 55.0m
- Hole CRSX22-08C: 2.81 g/t Au over 70.0 m
- Hole CRSX22-10A: 1.92 g/t Au over 87.0 m, incl. 3.14 g/t
Au over 25.5 m and 1.74 g/t Au over 73.5m, incl. 2.61 g/t Au over 24.0 m
- Hole CRSX22-09: 3.83 g/t Au over 40.5 m, incl. 9.28 g/t
Au over 9.0 m and 6.94 g/t Au over 16.0 m
- Hole CRSX22-08B: 3.78 g/t Au over 37.0 m
- Hole CRSX22-10: 2.71 g/t Au over 49.5 m, incl. 6.80 g/t
Au over 8.0 m
Camino Rojo Deep Potential: Drill results
have shown that gold mineralization extends deeper than the limit of the current mineral resource. These deeper intercepts suggest gold
mineralization remains open at depth along and adjacent to interpreted feeder-like structures for the currently defined Camino
Rojo deposit. Notable result include:1
- Hole CRSX22-07: 4.02 g/t Au & 1.5% Zn over 22.9 m, incl.
56.7 g/t Au & 17.2% Zn over 0.6 m
Regional Exploration: Encouraging drill
result on the first diamond drill core hole completed outside the footprint of the Camino Rojo mine. The Guanamero target area is located
approximately 7 km northeast of the Camino Rojo mine along the mine structural trend. Notable results include:1
- Hole CRED22-01: 0.54 g/t over 7.10 m, incl. 4.12 g/t over
0.7 m (from 51.4 m) and 1.35 g/t over 2.35 m, incl. 5.59 g/t over 0.5 m (from 104.95 m)
"The 2022 infill drilling of the sulphide extension
of the Camino Rojo deposit has consistently generated exceptional gold intersections enhancing future development opportunity scenarios
and potential to grow the resource at depth", stated Sylvain Guerard, Orla's Senior Vice President, Exploration. "We are excited
to advance a full exploration pipeline in 2023 in an effort to upgrade and expand reserves and resources and make new discoveries on our
large and under explored land package".
2022 Exploration: Camino Rojo (Mexico)
Exploration at Camino Rojo in 2022 focused on advancing
the understanding of the sulphide deposit (the "Sulphide Project" or "Camino Rojo Sulphides") and testing priority
regional targets to make new satellite discoveries.
Near Mine Exploration Results
Drill results at Camino Rojo Sulphides continue
to support potential for underground development
Drilling continues to intercept wide zones of higher-grade
gold mineralization, and in conjunction with metallurgical results from the 2021 drilling (see news release dated May 9, 2022),
supports the potential for underground development and a standalone processing option for the Camino Rojo Sulphides. A large part
of the 2022 program included infilling the sulphide deposit and improving the geological model to support potential underground mine development
scenario. A total of 9,174 metres was completed in 15 holes, with 5 holes previously reported (see news release dated September 12,
2022 - Orla Mining Advances Exploration & Growth Pipeline). The 15 holes completed in 2022 returned 32 significant mineralized
drill intercepts with grade-by-thickness factor greater than 50 g/t by metre Au (g/t * m), including 16 intercepts with grade-by-thickness
factor greater than 100 g/t by metre Au. Full drill results are available in the Appendix to this news release and are available
at www.orlamining.com.
The current mineral resource estimate for the Sulphide
Project at Camino Rojo consists of 74 koz of measured resource (3.358 million tonnes at 0.69 g/t gold) and 7,221 koz of indicated resources
(255.445 million tonnes at 0.88 g/t gold) and has an effective date of June 7, 2019.2
Figure 1: Camino Rojo Sulphides 2022 Drill Program
Hole Location (Plan View) (CNW Group/Orla Mining Ltd.)
Figure 2: Camino Rojo Sulphides 2022 Drill Program
Hole Location (Long Section) (CNW Group/Orla Mining Ltd.)
Figure 3: Camino Rojo Sulphides 2022 Results (Cross
Section, Hole CRSX22-08) (CNW Group/Orla Mining Ltd.)
Vein domains constraining higher grade gold in
sulphide deposit
The 2022 sulphide drill program has helped define
areas of high vein concentrations ("vein domains") which coincide with higher grade (>2 g/t) gold mineralization. The vein
domains are important geological controls on gold mineralization, constraining the distribution and continuity of higher-grade gold mineralization
within the sulphide deposit. Improved confidence in geological controls will strengthen future mineral resource estimations.
Vein domains have been defined by combining recent
oriented diamond drill core data and approximately 70,000 m of historical vein density and orientation data within the main zone of potassic
alteration (Kp). This work has resulted in the definition of three steep northwest and five shallow south-southwest dipping vein domains
(Figure 4). High grade gold (>10 g/t Au) appears to be concentrated at the intersection of these steep and shallow dipping domains.
Figure 4: Camino Rojo Sulphides 2022 Program Vein
Domains (Cross Section, Hole 7)
Potential new oxide mineralization outside current
pit boundaries
Hole CRSX22-05, drilled as part of the 2022 sulphide
drill program, intersected a mix of oxide and transitional material on the edge of the oxide open pit along the dike structure with mineralized
intersections of 1.95 g/t over 61.2 m and 1.03 g/t over 25.3 m (see news release dated September 12, 2022 - Orla Mining
Advances Exploration & Growth Pipeline). This positive intersection triggered follow-up drilling to further assess potential oxide
pit extension over this area. Two holes were drilled in 2022 with CROX22-01, returning 1.10 g/t Au over 136.5 m[3] and CROX22-02
returning 0.70 g/t Au over 290 m including 0.97 g/t Au over 147.5 m3. Both holes intercepted the extension of the mineralization
and associated oxidation that was intercepted in hole CRSX22-05, but within the current feasibility pit. Results so far indicate
that mineralizing structures also act as pathways for deep oxidation beyond the current pit boundary. Further drilling is planned in 2023
to test for zones of oxidized mineralization that could potentially allow for local expansion of the oxide pit.
Deeper intersections suggest deep potential for extension of Camino
Rojo Sulphides
Select holes from the recently completed 2022 sulphide
drill program were extended to test the down plunge continuity of gold mineralization along the Dike Zone. These drill holes have returned
encouraging and highly significant results, such as 4.02 g/t Au over 22.9 m. Compilation of historical drill data has also confirmed
high-grade gold intercepts over significant widths with a similar style of mineralization elsewhere below the current extents of the Camino
Rojo resource estimation model.
Most of the gold mineralization at Camino Rojo has
been defined in the Caracol Formation where auriferous veins are mostly constrained to a broad envelope of potassic alteration (Kp). Recent
and compiled historical drilling indicates gold mineralization extends deeper into the underlying Indidura and Cuesta del Cura formations
(and potentially deeper into other underlying units) along the Dike Zone and Breccia Fault Zone, suggesting these faults may be feeder-like
structures for the Camino Rojo deposit. This deeper gold mineralization is hosted by skarn and calc-silicate alteration associated with
manto-type mineralization with semi-massive to massive sulphides replacing bedding.
2022 notable results hosted in Indidura or Cuesta
del Cura formations:
- Hole CRSX22-07: 4.02 g/t Au over 22.9 m, incl. 9.30 g/t Au
over 6.1 m
- Hole CRSX22-08B: 1.28 g/t Au over 24.6 m
- Hole CRSX22-08B: 1.33 g/t Au over 17.2 m
- Hole CRSX22-08C: 2.50 g/t Au over 9.1 m
- Hole CRSX22-08C: 1.81 g/t Au over 19.4 m, incl. 2.51 g/t Au
over 9.0 m
Selected historical4 results below Caracol
Formation in Indidura or Cuesta del Cura Formations:
- Hole CR12-366D: 4.04 g/t Au over 46.5 m, incl. 6.26 g/t Au over
27.0 m
- Hole CR13-507DB: 3.08 g/t Au over 55.5 m, incl 5.67 g/t Au over
22.5 m
- Hole CR13-455D: 6.12 g/t Au over 21.0 m, incl 18.75 g/t Au over
6.0 m
- Hole CR13-454D: 2.11 g/t Au over 51.0 m, incl 6.72 g/t Au over
4.5 m
- Hole CR13-453D: 3.62 g/t Au over 27.0 m
- Hole CR14-597DG: 3.68 g/t Au over 25.5 m incl 11.49 g/t Au over
6.0 m
Figure 5: Camino Rojo Sulphides Deep Potential 2022
Results (CNW Group/Orla Mining Ltd.)
Figure 6: Camino Rojo Sulphides Deep Potential (Schematic
Cross Section) (CNW Group/Orla Mining Ltd.)
Regional Exploration Results
Orla's first diamond drill core hole outside the Camino
Rojo deposit returned 0.54 g/t Au over 7.10 m and 1.35 g/t Au over 2.35 m at the Guanamero target. Prior to this drill hole, meaningful
gold mineralization had been restricted to the footprint of the Camino Rojo Deposit. These new regional exploration results, combined
with strong exploration markers are a very encouraging step towards making a regional discovery. The positive exploration markers for
Guanamero include the presence of gold-bearing mafic dikes, alteration and rock types similar to Camino Rojo deep potential target, as
well as the Guanamero target being located on an extension of the mine trend.
Early-stage exploration targets were tested with reverse
circulation ("RC") drilling along the Camino Rojo Mine trend as well as to the south of the mine. One core hole (CRED22-01)
was drilled into an IP anomaly at the Guanamero target area, approximately 7 km to the northeast of the mine. The Guanamero target area
is defined by the northeast extension of diorite dikes along the regional structure hosting the Camino Rojo Mine, the presence of a large
high magnetic signature (1 km2) and anomalous to significant results from Orla's wide-spaced 2021 RAB drill program (see news
release dated March 14, 2022). Drill hole CRED22-01 intersected geology similar to that encountered in the deep potential at
the Camino Rojo Mine: altered diorite and hornblende porphyry diorite dikes with calc-silicate to propylitic altered Cuesta del Cura,
La Peña, and Cupido formations. Trace to 2% disseminated and fine sulphide (pyrite, pyrrhotite, sphalerite, magnetite) veinlets,
stringers and breccia zones were intercepted throughout the length of the hole. Anomalous to significant gold results, as listed below,
are associated with zones of breccia and sulphide dissemination and veinlets. Follow-up drilling will be performed in early 2023.
- 0.54 g/t over 7.10m, incl. 4.12 g/t over 0.7m (from 51.4
m)
- 0.39 g/t over 5.50 m, incl. 1.02 g/t over 1.5 m (from 74.5
m)
- 1.35 g/t over 2.35 m, incl. 3.83 g/t over 0.8 m (from 104.95
m)
- 0.24 g/t over 5.65 m, incl. 1.42 g/t over 0.6m (from 116.9
m)
- 0.44 g/t over 3.0 m (from 137.5 m)
- 0.20 g/t over 4.3 m (from 151.0 m)
- 0.32 g/t over 9.05 m (from 169.95 m)
- 0.11 g/t over 17.5 m (from 279.5 m)
- 2.17 g/t over 1.20 m (from 398.3 m)
- 0.63 g/t over 1.5 m (from 571.5 m)
Composites for the regional exploration drilling were
calculated using 0.1 g/t Au cut-off grade and maximum 6 metres consecutive waste.
Figure 7: Camino Rojo Regional Exploration Program
Guanamero Results (Hole 1) (CNW Group/Orla Mining Ltd.)
Figure 8: Guanamero Drill Results (Hole 1) (CNW Group/Orla
Mining Ltd.)
2023 Exploration Plans & Strategy: Camino Rojo (Mexico)
Mexico Exploration 2023 |
Program |
Drilling Planned |
Spend |
Camino Rojo Layback Drilling (capitalized) |
Infill on oxide mine
layback area |
3,000 m DD |
$2m |
Camino Rojo Sulphides Drilling |
Infilling sulphides
and other near-mine drilling |
34,000 m DD sulphides
(20% deep extension)
6,500 m DD (oxides) |
$16m |
Camino Rojo Regional Exploration |
Target drill testing
and target definition |
15,000-20,000 m RC
2,000-5,000 m DD
+Geophysical & geochemical surveys |
$4m |
Total Mexico Exploration |
|
|
$22m |
Near Mine Exploration
Camino Rojo layback reserve drilling
A 3,000 metre, 22-hole drill program to confirm and
delineate mineralization located in the oxide pit layback and allow for potential update of mineral resource and reserve estimates will
be completed in 2023. This program will seek to define additional oxide reserves at the Camino Rojo Mine following confirmatory core drilling
on the Fresnillo Plc ("Fresnillo") property, located immediately north and adjacent of the Camino Rojo oxide mine open pit.
While historical drilling indicates that mineralization continues across the property boundary onto the Fresnillo layback area, no ounces
from this area are currently included in the Camino Rojo mineral reserve estimate.
Figure 9: Camino Rojo Oxide Layback Drilling Plan
(Cross Section) (CNW Group/Orla Mining Ltd.)
Camino Rojo Sulphides drilling continuation
A 34,000-metre, 57 hole follow-up drill program will
continue to infill the Camino Rojo Sulphides in 2023. 20% of the holes will extend to test the deep potential of the deposit. In addition,
6,500m will be drilled on the extensions of the Camino Rojo oxide deposit to update and expand resources and reserves.
Based on the positive results encountered in the 2021
and 2022 programs, more closely spaced, south-oriented drilling will be required to fully capture the extent of a potential underground
resource. To date, 15,253 metres of directional drilling has been completed. This drilling has continued to inform Orla's perspective
on the development approach to the deposit. The 2023 drilling is expected to strengthen the confidence for the development of a Preliminary
Economic Assessment ("PEA") that contemplates underground mining by infilling the higher-grade (>2 g/t) portions of the deposit
with 50 metre spacing of South-oriented drill holes. Overall drill spacing at the end of this next phase, including historical north-oriented
drill holes, will be 25-30 metres. Upon the completion of the 2023 additional south oriented directional drilling and test work programs,
a PEA is expected to be completed based on the optimal development scenario for Orla.
Regional Exploration
Approximately 15,000-20,000 metres of RC drilling
and 2,000-5,000 metres of core drilling is planned for regional exploration in 2023. Regional exploration will consist of drill testing
multiple targets outside the Camino Rojo deposit including priority targets along the northeast-southwest mine trend, including targets
associated with recently defined IP anomalies. Priority targets such as Guanamero and Monterilla at the north-east and CR SW immediately
to the south-west of the Camino Rojo deposit were only partially tested in 2022 and will be drill tested in 2023. Geophysical and geochemical
surveys are also planned for 2023 to keep defining new targets.
Qualified Persons Statement
The scientific and technical information in this news
release has been reviewed and approved by Mr. Sylvain Guerard, P Geo., SVP Exploration of the Company, who is the Qualified Person as
defined under the definitions of National Instrument 43-101 ("NI 43-101").
To verify the information related to the 2022 drilling
programs at the Camino Rojo property, Mr. Guerard has visited the property in the past year; discussed logging, sampling, and sample shipping
processes with responsible site staff; discussed and reviewed assay and QA/QC results with responsible personnel; and reviewed supporting
documentation, including drill hole location and orientation and significant assay interval calculations.
Quality Assurance / Quality Control – 2022 Drill Program
All gold results at Camino Rojo were obtained by ALS
Minerals (Au-AA23) using fire assay fusion and an atomic absorption spectroscopy finish. All samples are also analyzed for multi-elements,
including silver, copper, lead and zinc using a four-acid digestion with ICP-AES finish (ME-ICP61) method at ALS Laboratories in Canada.
If samples were returned with gold values in excess of 10 ppm or base metal values in excess of 1% by ICP analysis, samples are re-run
with gold (Au-GRA21) by fire assay and gravimetric finish or base metal by (OG62) four acid overlimit methods. Drill program design, Quality
Assurance/Quality Control and interpretation of results were performed by qualified persons employing a Quality Assurance/Quality Control
program consistent with NI 43-101 and industry best practices. Standards were inserted at a frequency of one in every 50 samples, and
blanks were inserted at a frequency of one in every 50 samples for Quality Assurance/Quality Control purposes by the Company as well as
the lab. ALS Laboratories is independent of Orla. There are no known drilling, sampling, recovery, or other factors that could materially
affect the accuracy or reliability of the drilling data at Camino Rojo.
About Orla Mining Ltd.
Orla is operating the Camino Rojo Oxide Gold Mine,
a gold and silver open-pit and heap leach mine, located in Zacatecas State, Mexico. The property is 100% owned by Orla and covers over
160,000 hectares. The technical report for the 2021 Feasibility Study on the Camino Rojo oxide gold project entitled "Unconstrained
Feasibility Study NI 43-101 Technical Report on the Camino Rojo Gold Project – Municipality of Mazapil, Zacatecas, Mexico"
dated January 11, 2021, is available on SEDAR and EDGAR under the Company's profile at www.sedar.com and www.sec.gov, respectively.
Orla also owns 100% of Cerro Quema located in Panama which includes a gold production scenario and various exploration targets. Cerro
Quema is a proposed open pit mine and gold heap leach operation. The technical report for the Pre-Feasibility Study on the Cerro Quema
oxide gold project entitled "Project Pre-Feasibility Updated NI 43-101 Technical Report on the Cerro Quema Project, Province of
Los Santos, Panama" dated January 18, 2022, is available on SEDAR and EDGAR under the Company's profile at www.sedar.com and
www.sec.gov, respectively. Orla also owns 100% of the South Railroad Project, a feasibility-stage, open pit, heap leach project located
on the Carlin trend in Nevada. The technical report for the 2022 Feasibility Study entitled "South Railroad Project, Form 43-101F1
Technical Report Feasibility Study, Elko County, Nevada" dated March 23, 2022, is available on SEDAR and EDGAR under the Company's
profile at www.sedar.com and www.sec.gov, respectively. The technical reports are available on Orla's website at www.orlamining.com.
Forward-looking Statements
This news release contains certain "forward-looking
information" and "forward-looking statements" within the meaning of Canadian securities legislation and within the meaning
of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the United States Exchange Act of 1934, as amended,
the United States Private Securities Litigation Reform Act of 1995, or in releases made by the United States Securities and Exchange Commission,
all as may be amended from time to time, including, without limitation, statements regarding: the potential mineralization at Camino Rojo
based on the 2022 drill program, including the potential for local expansion of the oxide pit at Camino Rojo, the deep potential of the
Camino Rojo Sulphides and the potential for additional regional discoveries; and the Company's 2023 drill program, including the expected
expenditures, timing, benefits, and results thereof. Forward-looking statements are statements that are not historical facts which address
events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates
and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Certain
material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding the price
of gold, silver, and copper; the accuracy of mineral resource and mineral reserve estimations; that there will be no material adverse
change affecting the Company or its properties; that all required approvals will be obtained, including concession renewals and permitting;
that political and legal developments will be consistent with current expectations; that currency and exchange rates will be consistent
with current levels; and that there will be no significant disruptions affecting the Company or its properties. Consequently, there can
be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements involve significant known and unknown risks and uncertainties, which could
cause actual results to differ materially from those anticipated. These risks include, but are not limited to: uncertainty and variations
in the estimation of mineral resources and mineral reserves, including risks that the interpreted drill results may not accurately represent
the actual continuity of geology or grade of the deposit, bulk density measurements may not be representative, interpreted and modelled
metallurgical domains may not be representative, and metallurgical recoveries may not be representative; the Company's reliance on Camino
Rojo and risks associated with its start-up phase; financing risks and access to additional capital; risks related to natural disasters,
terrorist acts, health crises and other disruptions and dislocations, including by the COVID-19 pandemic; risks related to the Company's
indebtedness; success of exploration, development, and operation activities; foreign country and political risks, including risks relating
to foreign operations and expropriation or nationalization of mining operations; concession risks; permitting risks; environmental and
other regulatory requirements; delays in or failures to enter into a subsequent agreement with Fresnillo Plc with respect to accessing
certain additional portions of the mineral resource at Camino Rojo and to obtain the necessary regulatory approvals related thereto; the
mineral resource estimations for Camino Rojo being only estimates and relying on certain assumptions; delays in or failure to get access
from surface rights owners; risks related to guidance estimates and uncertainties inherent in the preparation of feasibility and pre-feasibility
studies, including but not limited to, assumptions underlying the production estimates not being realized, changes to the cost of production,
variations in quantity of mineralized material, grade or recovery rates, geotechnical or hydrogeological considerations during mining
differing from what has been assumed, failure of plant, equipment or processes, changes to availability of power or the power rates, ability
to maintain social license, changes to exchange, interest or tax rates, cost of labour, supplies, fuel and equipment rising, changes in
project parameters, delays, and costs inherent to consulting and accommodating rights of local communities; uncertainty in estimates of
production, capital, and operating costs and potential production and cost overruns; the fluctuating price of gold, silver, and copper;
global financial conditions; uninsured risks; competition from other companies and individuals; uncertainties related to title to mineral
properties; conflicts of interest; risks related to compliance with anti-corruption laws; volatility in the market price of the Company's
securities; assessments by taxation authorities in multiple jurisdictions; foreign currency fluctuations; the Company's limited operating
history; risks related to the Company's history of negative operating cash flow; litigation risks; intervention by non-governmental organizations;
outside contractor risks; risks related to historical data; unknown labilities in connection with acquisitions; the Company's ability
to identify, complete, and successfully integrate acquisitions; dividend risks; risks related to the Company's foreign subsidiaries; risks
related to the Company's accounting policies and internal controls; the Company's ability to satisfy the requirements of the Sarbanes-Oxley
Act of 2002; enforcement of civil liabilities; the Company's status as a passive foreign investment company for U.S. federal income tax
purposes; information and cyber security; gold industry concentration; shareholder activism; risks associated with executing the Company's
objectives and strategies, as well as those risk factors discussed in the Company's most recently filed management's discussion and analysis,
as well as its annual information form dated March 18, 2022, which are available on www.sedar.com and www.sec.gov. Except as required
by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other factors, should change.
Cautionary Note to U.S. Readers
This news release has been prepared in accordance
with Canadian standards for the reporting of mineral resource and mineral reserve estimates, which differ from the previous and current
standards of the United States securities laws. In particular, and without limiting the generality of the foregoing, the terms "mineral
reserve", "proven mineral reserve", "probable mineral reserve", "inferred mineral resources,", "indicated
mineral resources," "measured mineral resources" and "mineral resources" used or referenced herein and the documents
incorporated by reference herein, as applicable, are Canadian mineral disclosure terms as defined in accordance with Canadian National
Instrument 43-101 — Standards of Disclosure for Mineral Projects ("NI 43-101") and the Canadian Institute of Mining, Metallurgy
and Petroleum (the "CIM") — CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council,
as amended (the "CIM Definition Standards").
For United States reporting purposes, the United
States Securities and Exchange Commission (the "SEC") has adopted amendments to its disclosure rules (the "SEC Modernization
Rules") to modernize the mining property disclosure requirements for issuers whose securities are registered with the SEC under the
Exchange Act, which became effective February 25, 2019. The SEC Modernization Rules more closely align the SEC's disclosure requirements
and policies for mining properties with current industry and global regulatory practices and standards, including NI 43-101, and replace
the historical property disclosure requirements for mining registrants that were included in SEC Industry Guide 7. Issuers were required
to comply with the SEC Modernization Rules in their first fiscal year beginning on or after January 1, 2021. As a foreign private issuer
that is eligible to file reports with the SEC pursuant to the multi-jurisdictional disclosure system, the Corporation is not required
to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101
and the CIM Definition Standards. Accordingly, mineral reserve and mineral resource information contained or incorporated by reference
herein may not be comparable to similar information disclosed by United States companies subject to the United States federal securities
laws and the rules and regulations thereunder.
As a result of the adoption of the SEC Modernization
Rules, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred
mineral resources." In addition, the SEC has amended its definitions of "proven mineral reserves" and "probable mineral
reserves" to be "substantially similar" to the corresponding CIM Definition Standards that are required under NI 43-101.
While the SEC will now recognize "measured mineral resources", "indicated mineral resources" and "inferred mineral
resources", U.S. investors should not assume that all or any part of the mineralization in these categories will be converted into
a higher category of mineral resources or into mineral reserves without further work and analysis. Mineralization described using these
terms has a greater amount of uncertainty as to its existence and feasibility than mineralization that has been characterized as reserves.
Accordingly, U.S. investors are cautioned not to assume that all or any measured mineral resources, indicated mineral resources, or inferred
mineral resources that the Company reports are or will be economically or legally mineable without further work and analysis. Further,
"inferred mineral resources" have a greater amount of uncertainty and as to whether they can be mined legally or economically.
Therefore, U.S. investors are also cautioned not to assume that all or any part of inferred mineral resources will be upgraded to a higher
category without further work and analysis. Under Canadian securities laws, estimates of "inferred mineral resources" may not
form the basis of feasibility or pre-feasibility studies, except in rare cases. While the above terms are "substantially similar"
to CIM Definitions, there are differences in the definitions under the SEC Modernization Rules and the CIM Definition Standards. Accordingly,
there is no assurance any mineral reserves or mineral resources that the Company may report as "proven mineral reserves", "probable
mineral reserves", "measured mineral resources", "indicated mineral resources" and "inferred mineral resources"
under NI 43-101 would be the same had the Company prepared the reserve or resource estimates under the standards adopted under the SEC
Modernization Rules or under the prior standards of SEC Industry Guide 7.
Appendix: Drill Results
Table 1: Camino Rojo Near Mine Composite Drill
Results
HOLE-ID |
From
(m) |
To
(m) |
Core Length
(m) |
True Width
(m) |
Au g/t |
Ag g/t |
Au GXM |
Au GXM
(TW) |
Including
2.0g/t Au COG |
Including
10g/t Au HG |
Ox / Sx |
CRSX22-07 |
439.80 |
441.30 |
1.50 |
1.01 |
1.32 |
39.3 |
1.98 |
1.33 |
|
|
SX |
CRSX22-07 |
454.80 |
456.30 |
1.50 |
1.01 |
3.47 |
49.0 |
5.21 |
3.51 |
1.5m @ 3.47g/t Au |
|
SX |
CRSX22-07 |
465.30 |
544.80 |
79.50 |
53.59 |
1.46 |
5.5 |
115.85 |
78.09 |
15m @ 2.77g/t Au
1.5m @ 2.03g/t Au
1.5m @ 2.91g/t Au
4.5m @ 2.88g/t Au
3m @ 2.28g/t Au
1.5m @ 2.41g/t Au
3m @ 3.74g/t Au |
|
SX |
CRSX22-07 |
556.80 |
561.30 |
4.50 |
3.04 |
1.55 |
4.3 |
6.97 |
4.71 |
|
|
SX |
CRSX22-07 |
567.30 |
607.80 |
40.50 |
27.35 |
1.40 |
4.0 |
56.54 |
38.19 |
1.5m @ 5.12g/t Au
9m @ 2.72g/t Au |
|
SX |
CRSX22-07 |
619.80 |
627.30 |
7.50 |
5.09 |
1.82 |
1.4 |
13.62 |
9.25 |
1.5m @ 5.67g/t Au |
|
SX |
CRSX22-07 |
646.80 |
648.30 |
1.50 |
1.02 |
2.29 |
8.4 |
3.44 |
2.33 |
1.5m @ 2.29g/t Au |
|
SX |
CRSX22-07 |
663.30 |
664.80 |
1.50 |
1.02 |
1.16 |
6.5 |
1.74 |
1.18 |
|
|
SX |
CRSX22-07 |
673.50 |
675.00 |
1.50 |
1.02 |
1.19 |
7.5 |
1.78 |
1.20 |
|
|
SX |
CRSX22-07 |
681.00 |
682.50 |
1.50 |
1.01 |
1.55 |
5.2 |
2.33 |
1.57 |
|
|
SX |
CRSX22-07 |
685.50 |
687.00 |
1.50 |
1.01 |
1.20 |
37.5 |
1.79 |
1.21 |
|
|
SX |
CRSX22-07 |
777.60 |
800.50 |
22.90 |
15.43 |
4.02 |
12.2 |
92.03 |
62.01 |
6.05m @ 9.3g/t Au
9.1m @ 3.19g/t Au |
0.6m @ 56.7g/t Au
1m @ 16.75g/t Au |
SX |
CRSX22-07 |
807.00 |
808.50 |
1.50 |
1.01 |
1.28 |
1.0 |
1.92 |
1.29 |
|
|
|
CRSX22-07 |
813.00 |
814.50 |
1.50 |
1.00 |
1.37 |
11.0 |
2.05 |
1.37 |
|
|
|
CRSX22-07 |
819.00 |
820.50 |
1.50 |
1.00 |
1.46 |
9.1 |
2.18 |
1.46 |
|
|
|
CRSX22-07 |
831.00 |
834.00 |
3.00 |
2.00 |
1.32 |
2.4 |
3.97 |
2.65 |
|
|
|
CRSX22-07 |
888.00 |
890.20 |
2.20 |
1.46 |
2.86 |
8.2 |
6.29 |
4.17 |
1m @ 4.9g/t Au |
|
|
CRSX22-07C |
295.90 |
297.40 |
1.50 |
1.02 |
1.52 |
5.5 |
2.28 |
1.56 |
|
|
SX |
CRSX22-07C |
304.90 |
306.40 |
1.50 |
1.02 |
1.08 |
1.5 |
1.61 |
1.10 |
|
|
SX |
CRSX22-07C |
307.90 |
316.50 |
8.60 |
5.87 |
1.01 |
8.3 |
8.70 |
5.93 |
1.8m @ 2.02g/t Au |
|
SX |
CRSX22-07C |
338.35 |
340.15 |
1.80 |
1.23 |
1.16 |
5.4 |
2.09 |
1.43 |
|
|
SX |
CRSX22-07C |
435.80 |
441.60 |
5.80 |
4.52 |
2.03 |
48.3 |
11.76 |
9.15 |
4.3m @ 2.29g/t Au |
|
SX |
CRSX22-07C |
455.10 |
477.60 |
22.50 |
17.39 |
2.64 |
11.3 |
59.39 |
45.91 |
12m @ 4.37g/t Au |
1.5m @ 12.85g/t Au |
SX |
CRSX22-07C |
496.90 |
525.40 |
28.50 |
21.99 |
1.62 |
8.1 |
46.30 |
35.72 |
15m @ 2.11g/t Au
1.5m @ 2.56g/t Au |
|
SX |
CRSX22-07C |
534.40 |
535.90 |
1.50 |
1.16 |
1.54 |
6.9 |
2.31 |
1.78 |
|
|
SX |
CRSX22-07C |
540.40 |
541.90 |
1.50 |
1.16 |
1.18 |
2.3 |
1.77 |
1.37 |
|
|
SX |
CRSX22-07C |
559.90 |
562.90 |
3.00 |
2.31 |
3.20 |
4.3 |
9.59 |
7.39 |
1.5m @ 4.6g/t Au |
|
SX |
CRSX22-07C |
569.70 |
572.50 |
2.80 |
2.15 |
4.55 |
20.1 |
12.74 |
9.79 |
2.8m @ 4.55g/t Au |
|
SX |
CRSX22-07C |
580.00 |
585.00 |
5.00 |
3.83 |
1.62 |
6.3 |
8.08 |
6.19 |
1.5m @ 3.21g/t Au |
|
SX |
CRSX22-07C |
610.00 |
614.05 |
4.05 |
3.12 |
1.61 |
1.3 |
6.54 |
5.03 |
1.5m @ 3.19g/t Au |
|
SX |
CRSX22-07C |
636.15 |
637.65 |
1.50 |
1.15 |
1.22 |
19.5 |
1.82 |
1.40 |
|
|
SX |
CRSX22-07C |
645.15 |
664.50 |
19.35 |
14.85 |
2.23 |
21.8 |
43.20 |
33.15 |
1.5m @ 9.87g/t Au
7.2m @ 3.02g/t Au |
|
SX |
CRSX22-07C |
673.50 |
675.00 |
1.50 |
1.15 |
2.54 |
25.2 |
3.81 |
2.92 |
1.5m @ 2.54g/t Au |
|
SX |
CRSX22-07C |
760.50 |
763.50 |
3.00 |
2.34 |
1.11 |
8.8 |
3.34 |
2.60 |
|
|
SX |
CRSX22-07C |
771.00 |
772.70 |
1.70 |
1.33 |
3.55 |
12.4 |
6.04 |
4.71 |
1.7m @ 3.55g/t Au |
|
SX |
CRSX22-08 |
523.00 |
524.50 |
1.50 |
1.40 |
1.99 |
7.6 |
2.99 |
2.79 |
|
|
SX |
CRSX22-08 |
542.50 |
544.00 |
1.50 |
1.40 |
1.17 |
1.0 |
1.76 |
1.64 |
|
|
SX |
CRSX22-08 |
564.50 |
605.50 |
41.00 |
38.26 |
1.83 |
7.7 |
75.16 |
70.14 |
0.9m @ 9.3g/t Au
9m @ 2.77g/t Au
9m @ 3.24g/t Au |
|
SX |
CRSX22-08 |
612.50 |
641.00 |
28.50 |
26.52 |
2.81 |
9.5 |
80.07 |
74.51 |
6m @ 4.35g/t Au
5.45m @ 6.22g/t Au
1.5m @ 4.73g/t Au |
1.5m @ 13.5g/t Au
1.5m @ 15.3g/t Au |
612.5 - 619.3 SX
619.3 - 626.65
626.65 - 627.5 OX
627.5 - 636.4 TRSX
636.4 - 641 SX |
CRSX22-08 |
648.60 |
657.50 |
8.90 |
8.27 |
2.53 |
6.4 |
22.55 |
20.95 |
0.6m @ 29.3g/t Au |
0.6m @ 29.3g/t Au |
SX |
CRSX22-08 |
665.00 |
673.60 |
8.60 |
7.98 |
2.02 |
22.7 |
17.35 |
16.10 |
3.05m @ 3.93g/t Au |
|
SX |
CRSX22-08 |
849.00 |
850.50 |
1.50 |
1.01 |
1.72 |
2.3 |
2.58 |
1.74 |
|
|
SX |
CRSX22-08 |
879.00 |
880.50 |
1.50 |
1.00 |
1.25 |
15.2 |
1.87 |
1.25 |
|
|
879 - 879.3 FR
879.3 - 880.5 TROL |
CRSX22-08 |
910.50 |
914.00 |
3.50 |
2.35 |
1.76 |
1.8 |
6.15 |
4.13 |
0.5m @ 7.33g/t Au |
|
SX |
CRSX22-08B |
495.50 |
497.00 |
1.50 |
1.50 |
1.07 |
9.1 |
1.61 |
1.60 |
|
|
SX |
CRSX22-08B |
519.00 |
520.70 |
1.70 |
1.70 |
1.14 |
40.9 |
1.93 |
1.93 |
|
|
SX |
CRSX22-08B |
545.50 |
557.30 |
11.80 |
11.77 |
2.07 |
10.9 |
24.47 |
24.40 |
2m @ 9.27g/t Au |
0.5m @ 29.5g/t Au |
545.5 - 546.7 SX
546.7 - 557.3 TRSX |
CRSX22-08B |
568.50 |
605.45 |
36.95 |
36.83 |
3.78 |
14.7 |
139.68 |
139.22 |
35.75m @ 3.86g/t Au |
1.5m @ 21.7g/t Au
1.5m @ 16g/t Au |
568.5 - 578.75 TRSX
578.75 - 579 TROL
579 - 580.5 TRSX
580.5 - 580.78 TROH
580.78 - 584.79 TRSX
584.79 - 586.39 TROL
586.39 - 599.42 TRSX
599.42 - 599.46 TROH
599.46 - 602 TROL
602 - 605.45 TROH |
CRSX22-08B |
611.50 |
645.50 |
34.00 |
33.87 |
2.70 |
4.5 |
91.83 |
91.47 |
1.5m @ 9.88g/t Au
24m @ 2.8g/t Au |
1.4m @ 21g/t Au |
611.5 - 619.2 TROL
619.2 - 645.5 SX |
CRSX22-08B |
651.60 |
668.00 |
16.40 |
16.33 |
1.85 |
4.9 |
30.40 |
30.26 |
10.4m @ 2.54g/t Au |
|
651.6 - 651.7 SX
651.7 - 654 TRSX
654 - 668 SX |
CRSX22-08B |
693.00 |
698.00 |
5.00 |
4.38 |
1.20 |
0.7 |
6.00 |
5.25 |
|
|
TRSX |
CRSX22-08B |
734.50 |
751.50 |
17.00 |
14.93 |
1.05 |
3.8 |
17.80 |
15.64 |
1.3m @ 2.75g/t Au |
|
734.5 - 736.7 TROL
736.7 - 742.15 SX
742.15 - 748.4
748.4 - 751.5 TROL |
CRSX22-08B |
756.00 |
757.50 |
1.50 |
1.32 |
1.23 |
12.7 |
1.85 |
1.62 |
|
|
TRSX |
CRSX22-08B |
772.00 |
777.70 |
5.70 |
4.99 |
1.75 |
11.8 |
10.00 |
8.76 |
1m @ 3.86g/t Au
1.7m @ 2.17g/t Au |
|
TRSX |
CRSX22-08B |
785.00 |
786.50 |
1.50 |
1.31 |
2.06 |
17.0 |
3.09 |
2.70 |
1.5m @ 2.06g/t Au |
|
TRSX |
CRSX22-08B |
806.00 |
830.60 |
24.60 |
21.49 |
1.28 |
9.6 |
31.44 |
27.46 |
4.5m @ 3.01g/t Au |
|
SX |
CRSX22-08B |
858.80 |
876.00 |
17.20 |
14.97 |
1.33 |
17.8 |
22.87 |
19.90 |
1.5m @ 4.92g/t Au |
|
SX |
CRSX22-08C |
534.00 |
535.50 |
1.50 |
1.48 |
4.03 |
3.8 |
6.05 |
5.97 |
1.5m @ 4.03g/t Au |
|
SX |
CRSX22-08C |
550.00 |
559.50 |
9.50 |
9.37 |
2.64 |
8.6 |
25.12 |
24.78 |
9.5m @ 2.64g/t Au |
|
SX |
CRSX22-08C |
568.50 |
585.00 |
16.50 |
16.26 |
2.32 |
19.3 |
38.34 |
37.79 |
1.5m @ 6.3g/t Au
3m @ 7.1g/t Au |
|
SX |
CRSX22-08C |
593.00 |
663.00 |
70.00 |
68.90 |
2.81 |
9.1 |
196.45 |
193.35 |
70m @ 2.81g/t Au |
1.5m @ 11.55g/t Au
1.5m @ 14.05g/t Au |
593 - 595.6 TRSX
595.6 - 597.7 TROL
597.7 - 600.25 OX
600.25 - 602.4 TROL
602.4 - 607.4 TRSX
607.4 - 609 TROL
609 - 611.56 TRSX
611.56 - 613.13 SX
613.13 - 613.65 TROL
613.65 - 615.65 TRSX
615.65 - 617.8 TROL
617.8 - 619.9 SX
619.9 - 627.7 TROL
627.7 - 663 SX |
CRSX22-08C |
673.50 |
679.50 |
6.00 |
4.94 |
2.88 |
4.2 |
17.29 |
14.25 |
4.5m @ 3.35g/t Au |
|
SX |
CRSX22-08C |
690.00 |
702.00 |
12.00 |
9.91 |
1.32 |
2.0 |
15.79 |
13.03 |
1.5m @ 3g/t Au
1.5m @ 2.77g/t Au |
|
TRSX |
CRSX22-08C |
715.00 |
723.00 |
8.00 |
6.61 |
1.21 |
5.7 |
9.69 |
8.01 |
0.85m @ 4.13g/t Au |
|
715 - 720.35 TRSX
720.35 - 723 SX |
CRSX22-08C |
730.50 |
740.50 |
10.00 |
8.27 |
1.11 |
3.8 |
11.10 |
9.17 |
1.5m @ 2.88g/t Au
1.5m @ 2.88g/t Au |
|
730.5 - 736.05 SX
736.05 - 740.5 TRSX |
CRSX22-08C |
784.00 |
785.50 |
1.50 |
1.25 |
1.94 |
11.7 |
2.90 |
2.41 |
|
|
SX |
CRSX22-08C |
800.50 |
802.00 |
1.50 |
1.25 |
4.42 |
40.8 |
6.63 |
5.51 |
1.5m @ 4.42g/t Au |
|
SX |
CRSX22-08C |
849.95 |
852.00 |
2.05 |
1.70 |
2.14 |
10.0 |
4.39 |
3.65 |
2.05m @ 2.14g/t Au |
|
SX |
CRSX22-08C |
858.40 |
867.50 |
9.10 |
7.56 |
2.50 |
8.2 |
22.73 |
18.89 |
7.6m @ 2.79g/t Au |
|
SX |
CRSX22-08C |
876.50 |
878.00 |
1.50 |
1.25 |
2.07 |
1.8 |
3.11 |
2.58 |
1.5m @ 2.07g/t Au |
|
SX |
CRSX22-08C |
885.00 |
886.50 |
1.50 |
1.25 |
2.35 |
11.9 |
3.53 |
2.93 |
|
|
SX |
CRSX22-08C |
908.50 |
927.85 |
19.35 |
16.08 |
1.81 |
9.2 |
34.96 |
29.06 |
9m @ 2.51g/t Au
2.6m @ 2.75g/t Au |
|
SX |
CRSX22-09 |
489.50 |
491.00 |
1.50 |
1.34 |
2.23 |
5.3 |
3.35 |
3.00 |
1.5m @ 2.23g/t Au |
|
SX |
CRSX22-09 |
522.00 |
538.00 |
16.00 |
13.15 |
6.94 |
36.5 |
111.10 |
91.30 |
14.5m @ 7.48g/t Au |
1.5m @ 17.7g/t Au
1.5m @ 11.8g/t Au
2m @ 17.77g/t Au |
SX |
CRSX22-09 |
547.00 |
587.50 |
40.50 |
36.23 |
3.83 |
12.1 |
154.96 |
138.63 |
7.5m @ 6.74g/t Au
9m @ 9.28g/t Au |
1.5m @ 26.4g/t Au
1.2m @ 29g/t Au
1.5m @ 13.1g/t Au |
547 - 567.7 TRSX
567.7 - 582.8 SX
582.8 - 587.5 TRSX |
CRSX22-09 |
595.50 |
606.00 |
10.50 |
9.39 |
1.08 |
4.4 |
11.39 |
10.18 |
1.5m @ 2.88g/t Au
1.5m @ 2.32g/t Au |
|
SX |
CRSX22-09 |
609.00 |
631.00 |
22.00 |
18.09 |
1.01 |
1.5 |
22.32 |
18.35 |
1.5m @ 3.33g/t Au
1.2m @ 3.54g/t Au |
|
SX |
CRSX22-09 |
656.50 |
671.00 |
14.50 |
12.95 |
1.90 |
4.2 |
27.53 |
24.59 |
7m @ 3.17g/t Au |
|
SX |
CRSX22-09 |
678.50 |
679.50 |
1.00 |
0.89 |
1.85 |
0.7 |
1.85 |
1.65 |
|
|
SX |
CRSX22-09A |
467.40 |
468.40 |
1.00 |
0.99 |
5.78 |
16.6 |
5.78 |
5.70 |
1m @ 5.78g/t Au |
|
FR |
CRSX22-09A |
482.00 |
485.00 |
3.00 |
2.96 |
1.08 |
20.2 |
3.23 |
3.18 |
|
|
482 - 482.6 FR
482.6 - 485 SX |
CRSX22-09A |
492.50 |
571.50 |
79.00 |
77.87 |
2.76 |
9.3 |
218.25 |
215.14 |
55m @ 3.22g/t Au
1.5m @ 5.71g/t Au
3m @ 4.44g/t Au |
1.5m @ 10.1g/t Au |
SX |
CRSX22-09A |
579.00 |
591.00 |
12.00 |
11.81 |
1.32 |
3.5 |
15.86 |
15.61 |
4.5m @ 2.3g/t Au |
|
SX |
CRSX22-09A |
600.00 |
605.50 |
5.50 |
5.41 |
2.53 |
5.2 |
13.91 |
13.69 |
1.5m @ 6.31g/t Au |
|
SX |
CRSX22-09A |
612.50 |
614.00 |
1.50 |
1.48 |
3.18 |
3.5 |
4.77 |
4.69 |
1.5m @ 3.18g/t Au |
|
SX |
CRSX22-09A |
620.50 |
624.50 |
4.00 |
3.94 |
1.37 |
5.2 |
5.46 |
5.38 |
|
|
620.5 - 621.6 SX
621.6 - 624.5 TRSX |
CRSX22-09A |
629.70 |
631.00 |
1.30 |
1.07 |
2.32 |
2.7 |
3.02 |
2.48 |
1.3m @ 2.32g/t Au |
|
OX |
CRSX22-09A |
648.00 |
656.50 |
8.50 |
6.99 |
1.22 |
5.8 |
10.40 |
8.55 |
2.5m @ 2.94g/t Au |
|
648 - 651.5 TRSX
651.5 - 656.5 SX |
CRSX22-09A |
671.50 |
682.00 |
10.50 |
8.64 |
1.19 |
2.9 |
12.47 |
10.27 |
1.5m @ 4.37g/t Au |
|
SX |
CRSX22-09A |
695.50 |
748.00 |
52.50 |
43.22 |
1.16 |
8.9 |
60.98 |
50.19 |
1.5m @ 4.39g/t Au
1.5m @ 2.36g/t Au
1.5m @ 2.1g/t Au
10.5m @ 2.02g/t Au |
|
695.5 - 722 SX
722 - 723.7 TROL
723.7 - 748 SX |
CRSX22-09A |
760.40 |
801.50 |
41.10 |
34.04 |
1.93 |
15.1 |
79.14 |
65.55 |
3m @ 3.31g/t Au
11m @ 4.06g/t Au |
1.05m @ 25.6g/t Au |
SX |
CRSX22-09B |
460.50 |
462.00 |
1.50 |
1.43 |
1.40 |
15.8 |
2.09 |
2.00 |
|
|
SX |
CRSX22-09B |
481.50 |
483.00 |
1.50 |
1.44 |
2.13 |
24.7 |
3.20 |
3.06 |
1.5m @ 2.13g/t Au |
|
SX |
CRSX22-09B |
499.50 |
563.45 |
63.95 |
61.07 |
4.66 |
17.2 |
298.22 |
284.78 |
57.55m @ 5.08g/t Au |
0.85m @ 10g/t Au
0.75m @ 35.2g/t Au
1.2m @ 13.75g/t Au
1.6m @ 10.85g/t Au
0.75m @ 73.6g/t Au
1.5m @ 16.5g/t Au
1.5m @ 19.7g/t Au |
499.5 - 533.85 SX
533.85 - 553.9 TRSX
553.9 - 563.45 SX |
CRSX22-09B |
571.00 |
592.20 |
21.20 |
20.21 |
2.43 |
7.2 |
51.55 |
49.14 |
18.2m @ 2.64g/t Au |
|
571 - 582.1 TRSX
582.1 - 587.5 SX
587.5 - 592.2 |
CRSX22-09B |
600.00 |
615.50 |
15.50 |
14.78 |
1.26 |
1.7 |
19.50 |
18.59 |
1.5m @ 2.07g/t Au
0.6m @ 11.9g/t Au |
0.6m @ 11.9g/t Au |
600 - 606.35
606.35 - 615.5 SX |
CRSX22-09B |
646.65 |
652.75 |
6.10 |
4.49 |
3.05 |
7.9 |
18.61 |
13.70 |
4.05m @ 4.01g/t Au |
0.8m @ 15.05g/t Au |
SX |
CRSX22-09B |
659.80 |
660.50 |
0.70 |
0.51 |
8.04 |
8.3 |
5.63 |
4.14 |
0.7m @ 8.04g/t Au |
|
SX |
CRSX22-09B |
671.00 |
684.50 |
13.50 |
9.91 |
1.21 |
3.5 |
16.34 |
11.99 |
3m @ 2.51g/t Au
1.5m @ 2.14g/t Au |
|
671 - 671.1 SX |
CRSX22-09B |
708.50 |
730.90 |
22.40 |
16.37 |
1.18 |
7.9 |
26.40 |
19.30 |
0.7m @ 8.8g/t Au
1.5m @ 3.13g/t Au |
|
|
CRSX22-09B |
747.70 |
749.20 |
1.50 |
1.09 |
1.68 |
23.4 |
2.51 |
1.83 |
|
|
|
CRSX22-10 |
368.00 |
369.00 |
1.00 |
0.81 |
1.64 |
4.4 |
1.64 |
1.32 |
|
|
FR |
CRSX22-10 |
370.50 |
372.00 |
1.50 |
1.21 |
1.26 |
12.2 |
1.88 |
1.52 |
|
|
FR |
CRSX22-10 |
418.50 |
420.00 |
1.50 |
1.21 |
1.10 |
3.4 |
1.65 |
1.33 |
|
|
SX |
CRSX22-10 |
456.00 |
462.00 |
6.00 |
4.82 |
2.09 |
26.3 |
12.55 |
10.08 |
1.5m @ 5.54g/t Au |
|
SX |
CRSX22-10 |
483.00 |
484.50 |
1.50 |
1.20 |
1.19 |
6.4 |
1.78 |
1.43 |
|
|
SX |
CRSX22-10 |
491.00 |
501.50 |
10.50 |
8.43 |
3.93 |
14.3 |
41.29 |
33.15 |
4.5m @ 8.48g/t Au |
1.5m @ 18.8g/t Au |
SX |
CRSX22-10 |
515.00 |
524.00 |
9.00 |
7.22 |
1.26 |
10.5 |
11.32 |
9.09 |
1.5m @ 3.47g/t Au |
|
SX |
CRSX22-10 |
531.50 |
581.00 |
49.50 |
39.70 |
2.71 |
6.6 |
134.37 |
107.77 |
1.5m @ 2.86g/t Au
17.5m @ 3.21g/t Au
8m @ 6.8g/t Au
3m @ 2.06g/t Au |
1.5m @ 22.7g/t Au
2.7m @ 17.3g/t Au |
SX |
CRSX22-10 |
588.50 |
603.50 |
15.00 |
12.02 |
1.20 |
5.2 |
18.00 |
14.42 |
1.5m @ 2.32g/t Au
1.5m @ 4.81g/t Au |
|
SX |
CRSX22-10 |
618.50 |
620.00 |
1.50 |
1.20 |
10.30 |
7.1 |
15.45 |
12.38 |
1.5m @ 10.3g/t Au |
1.5m @ 10.3g/t Au |
SX |
CRSX22-10 |
626.60 |
641.50 |
14.90 |
11.93 |
5.31 |
14.9 |
79.19 |
63.38 |
8.9m @ 8.34g/t Au |
1.4m @ 12.15g/t Au
2.6m @ 18.89g/t Au |
SX |
CRSX22-10 |
652.00 |
655.00 |
3.00 |
2.40 |
1.97 |
4.1 |
5.92 |
4.73 |
1.5m @ 2.46g/t Au |
|
SX |
CRSX22-10 |
664.00 |
703.00 |
39.00 |
31.05 |
1.29 |
9.2 |
50.39 |
40.12 |
6m @ 2.43g/t Au
1.5m @ 2.54g/t Au
1.5m @ 4.73g/t Au
1.5m @ 3.77g/t Au |
|
SX |
CRSX22-10 |
712.00 |
715.30 |
3.30 |
2.62 |
3.32 |
35.0 |
10.95 |
8.70 |
1.8m @ 4.9g/t Au |
|
SX |
CRSX22-10 |
725.50 |
732.50 |
7.00 |
5.56 |
1.86 |
20.4 |
13.03 |
10.34 |
5.5m @ 2.08g/t Au |
|
SX |
CRSX22-10 |
739.50 |
741.00 |
1.50 |
1.19 |
1.89 |
14.9 |
2.84 |
2.25 |
|
|
SX |
CRSX22-10 |
747.00 |
748.50 |
1.50 |
1.19 |
1.32 |
8.2 |
1.98 |
1.57 |
|
|
SX |
CRSX22-10 |
762.00 |
763.50 |
1.50 |
1.19 |
4.57 |
26.1 |
6.86 |
5.44 |
1.5m @ 4.57g/t Au |
|
SX |
CRSX22-10 |
775.50 |
777.00 |
1.50 |
1.22 |
1.09 |
10.7 |
1.64 |
1.32 |
|
|
SX |
CRSX22-10A |
456.50 |
459.50 |
3.00 |
2.72 |
1.87 |
12.3 |
5.61 |
5.09 |
1.5m @ 2.65g/t Au |
|
SX |
CRSX22-10A |
468.50 |
470.00 |
1.50 |
1.36 |
2.00 |
13.4 |
3.00 |
2.72 |
1.5m @ 2g/t Au |
|
SX |
CRSX22-10A |
492.50 |
506.00 |
13.50 |
12.23 |
3.10 |
33.8 |
41.84 |
37.89 |
10.5m @ 3.55g/t Au |
|
SX |
CRSX22-10A |
524.00 |
545.00 |
21.00 |
18.96 |
3.13 |
6.8 |
65.71 |
59.33 |
10.5m @ 5.66g/t Au |
1.5m @ 24g/t Au |
SX |
CRSX22-10A |
555.50 |
642.50 |
87.00 |
78.32 |
1.92 |
7.8 |
167.35 |
150.65 |
1.5m @ 3.07g/t Au
25.5m @ 3.14g/t Au
9m @ 2.99g/t Au
1.5m @ 5.7g/t Au
1.5m @ 2.94g/t Au
9m @ 2.03g/t Au |
1.5m @ 10.5g/t Au |
SX |
CRSX22-10A |
657.50 |
665.00 |
7.50 |
6.73 |
2.53 |
21.9 |
18.98 |
17.04 |
1.5m @ 8.87g/t Au |
|
SX |
CRSX22-10A |
678.50 |
680.00 |
1.50 |
1.35 |
1.83 |
22.9 |
2.75 |
2.46 |
|
|
SX |
CRSX22-10A |
689.00 |
762.50 |
73.50 |
65.86 |
1.74 |
10.6 |
127.80 |
114.52 |
4.5m @ 2.08g/t Au
24m @ 2.61g/t Au
4.5m @ 2.25g/t Au
1.5m @ 2.4g/t Au
7.5m @ 2.23g/t Au |
|
SX |
CRSX22-10A |
774.50 |
780.50 |
6.00 |
5.36 |
5.61 |
16.4 |
33.68 |
30.11 |
4.5m @ 6.85g/t Au |
1.5m @ 11.95g/t Au |
SX |
CRSX22-10A |
788.00 |
789.00 |
1.00 |
0.90 |
1.61 |
13.8 |
1.61 |
1.45 |
|
|
SX |
CRSX22-10B |
464.50 |
466.00 |
1.50 |
1.38 |
1.24 |
45.8 |
1.85 |
1.71 |
|
|
SX |
CRSX22-10B |
487.50 |
489.00 |
1.50 |
1.38 |
4.93 |
68.6 |
7.40 |
6.81 |
1.5m @ 4.93g/t Au |
|
SX |
CRSX22-10B |
496.50 |
504.00 |
7.50 |
6.91 |
3.29 |
23.6 |
24.69 |
22.75 |
3m @ 6.58g/t Au |
|
SX |
CRSX22-10B |
516.00 |
517.50 |
1.50 |
1.38 |
12.20 |
95.1 |
18.30 |
16.86 |
1.5m @ 12.2g/t Au |
1.5m @ 12.2g/t Au |
SX |
CRSX22-10B |
526.50 |
573.00 |
46.50 |
42.32 |
1.46 |
4.6 |
67.82 |
61.73 |
1.5m @ 2.15g/t Au
6m @ 3.38g/t Au
9m @ 2.29g/t Au |
|
SX |
Criteria: Cut off grade 1g/t Au, minimum length 1.5m, maximum consecutive internal waste 6m, if Au grade x length > 1.5 the composite will be added |
Table 2: Camino Rojo Oxide Pit Composite Drill Results
HOLE-ID |
From
(m) |
To
(m) |
Core Length
(m) |
Au g/t |
Ag g/t |
Au GXM |
Including
0.5g/t Au COG |
Including
1g/t Au COG |
Including
2g/t Au COG |
CROX22-01 |
21.50 |
71.50 |
50.00 |
0.99 |
11.5 |
49.48 |
1.5m @ 1g/t Au
39.5m @ 1.18g/t Au |
1.5m @ 1.58g/t Au
25m @ 1.56g/t Au |
1.6m @ 2.93g/t Au
6.05m @ 2.37g/t Au
1.5m @ 2.03g/t Au
1.3m @ 6.18g/t Au |
CROX22-01 |
79.00 |
84.40 |
5.40 |
1.31 |
4.3 |
7.07 |
5.4m @ 1.31g/t Au |
1.5m @ 4.1g/t Au |
1.5m @ 4.1g/t Au |
CROX22-01 |
98.70 |
133.50 |
34.80 |
0.42 |
13.3 |
14.63 |
1.3m @ 0.64g/t Au
1.5m @ 0.64g/t Au
1.5m @ 0.75g/t Au
1.5m @ 2.34g/t Au
2.9m @ 0.94g/t Au |
1.5m @ 2.34g/t Au
1.4m @ 1.2g/t Au |
1.5m @ 2.34g/t Au |
CROX22-01 |
144.50 |
281.00 |
136.50 |
1.10 |
17.5 |
149.55 |
1.5m @ 0.62g/t Au
112.2m @ 1.29g/t Au |
5.5m @ 1.6g/t Au
1.5m @ 1.83g/t Au
3m @ 4.9g/t Au
56.5m @ 1.64g/t Au
4.5m @ 1.41g/t Au |
1.4m @ 3.11g/t Au
1.5m @ 7.82g/t Au
21.5m @ 2.06g/t Au
1.5m @ 2.08g/t Au
4.3m @ 2.06g/t Au
1.5m @ 2.02g/t Au
1.5m @ 2.57g/t Au |
CROX22-02 |
0.00 |
290.00 |
290.00 |
0.70 |
10.6 |
203.01 |
3.6m @ 0.54g/t Au
1.5m @ 0.66g/t Au
1.5m @ 1.44g/t Au
147.5m @ 0.97g/t Au
10.65m @ 0.86g/t Au
25.95m @ 0.59g/t Au
4.5m @ 0.92g/t Au
3.2m @ 0.72g/t Au
1.5m @ 0.53g/t Au
1.5m @ 0.88g/t Au |
1.5m @ 1.44g/t Au
5.5m @ 1.33g/t Au
45.5m @ 1.59g/t Au
10.5m @ 1.17g/t Au
1.5m @ 1.17g/t Au
4.95m @ 1.07g/t Au
15.65m @ 1.12g/t Au
5.7m @ 1.15g/t Au
1.5m @ 1.05g/t Au
1.5m @ 1.01g/t Au
1.7m @ 1.37g/t Au |
1.5m @ 3.18g/t Au
4m @ 2.8g/t Au
6m @ 3.13g/t Au
1.5m @ 2.3g/t Au
1.75m @ 2.21g/t Au
1.8m @ 2.22g/t Au
1.15m @ 3.11g/t Au |
Criteria: Cut off grade 0.2g/t Au, minimum length 1.5m, maximum consecutive internal waste 6m |
|
Table 3: Camino Rojo Regional Program Composite Drill Results
HOLE-ID |
From
(m) |
To
(m) |
Core Length
(m) |
Au
g/t |
Ag
g/t |
Au GXM |
Including
0.5g/t Au COG |
Including
1g/t Au COG |
Met Code |
CRED22-01 |
51.40 |
58.50 |
7.10 |
0.54 |
0.6 |
3.81 |
0.7m @ 4.12g/t Au |
0.7m @ 4.12g/t Au |
51.4 - 52.48 SX
52.48 - 52.83 OX
52.83 - 58.5 SX |
CRED22-01 |
74.50 |
80.00 |
5.50 |
0.39 |
0.6 |
2.13 |
1.5m @ 1.02g/t Au |
1.5m @ 1.02g/t Au |
SX |
CRED22-01 |
104.95 |
107.30 |
2.35 |
1.35 |
1.1 |
3.17 |
0.8m @ 3.83g/t Au |
0.5m @ 5.59g/t Au |
104.95 - 105 OX
105 - 107.3 SX |
CRED22-01 |
116.90 |
122.55 |
5.65 |
0.24 |
1.3 |
1.38 |
0.6m @ 1.42g/t Au |
|
116.9 - 120.73 SX
120.73 - 122.55 OX |
CRED22-01 |
137.50 |
140.50 |
3.00 |
0.44 |
0.3 |
1.32 |
1.5m @ 0.62g/t Au |
|
SX |
CRED22-01 |
151.90 |
156.20 |
4.30 |
0.20 |
0.3 |
0.87 |
|
|
SX |
CRED22-01 |
169.95 |
179.00 |
9.05 |
0.32 |
0.6 |
2.91 |
1.7m @ 1.43g/t Au |
1.7m @ 1.43g/t Au |
SX |
CRED22-01 |
279.50 |
297.00 |
17.50 |
0.11 |
1.8 |
1.95 |
|
|
SX |
CRED22-01 |
398.30 |
399.50 |
1.20 |
2.17 |
0.8 |
2.60 |
1.2m @ 2.17g/t Au |
1.2m @ 2.17g/t Au |
SX |
CRED22-01 |
571.50 |
573.00 |
1.50 |
0.63 |
0.6 |
0.95 |
1.5m @ 0.63g/t Au |
|
SX |
Criteria: Cut off grade 0.1g/t Au, minimum length 1.5m, maximum consecutive internal waste 6m. |
Table 4: Camino Rojo Drill Hole Collars
Drillhole |
Easting |
Northing |
Elevation |
Azimuth |
Dip |
Depth (m) |
CRSX22-07 |
243658 |
2676063 |
1953 |
152 |
-74 |
1001 |
CRSX22-07C |
243658 |
2676063 |
1953 |
152 |
-65 |
779 |
CRSX22-08 |
243680 |
2676269 |
1954 |
148 |
-73 |
922 |
CRSX22-08B |
243680 |
2676269 |
1954 |
148 |
-73 |
881 |
CRSX22-08C |
243680 |
2676269 |
1954 |
148 |
-73 |
929 |
CRSX22-09 |
243677 |
2676170 |
1951 |
152 |
-75 |
691 |
CRSX22-09A |
243677 |
2676170 |
1951 |
151 |
-58 |
802 |
CRSX22-09B |
243677 |
2676170 |
1951 |
150 |
-76 |
760 |
CRSX22-10 |
243599 |
2676109 |
1954 |
160 |
-60 |
785 |
CRSX22-10A |
243599 |
2676109 |
1954 |
159 |
-61 |
790 |
CRSX22-10B |
243599 |
2676109 |
1954 |
160 |
-61 |
585 |
CROX22-01 |
244153 |
2676098 |
1920 |
145 |
-56 |
282 |
CROX22-02 |
244190 |
2676120 |
1920 |
145 |
-59 |
290 |
CRED22-01 |
250253 |
2680276 |
1930 |
180 |
-65 |
600 |
___________________________________________ |
1 All metres reported above are down-hole intervals, with true width estimates ranging from 66-100% of the reported interval. See Table 1 for estimated true widths of individual composites. All assays were performed on 1.5 metre core intervals and all drill core is HQ in diameter in size. The reported composites were not subject to "capping", however a preliminary analysis suggests that only 6 out of 2,910 samples exceeded the potential capping level of 27.0 g/t - these samples averaged 42.2 g/t gold (max. 73.6 g/t) and Orla believes that applying a top cut would have a negligible effect on overall grades. Composites for the sulphide drilling were calculated using 1 g/t Au cut-off grade and maximum 6 metres consecutive waste. |
2 Additional information can be found in the Camino Rojo Technical Report entitled "Unconstrained Feasibility Study NI 43-101 Technical Report on the Camino Rojo Gold Project – Municipality of Mazapil, Zacatecas, Mexico" and dated January 11, 2021. |
3 Composites for the oxide drilling were calculated using 0.2 g/t Au cut-off grade and maximum 6 metres consecutive waste. |
4 Drill results presented are historical in nature. Such results were completed by Goldcorp Inc., a prior owner of the Camino Rojo Project. Composites for the sulphide drilling were calculated using 1 g/t Au cut-off grade and maximum 6 metres consecutive waste. |
SOURCE Orla Mining Ltd.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2023/31/c7248.html
%CIK: 0001680056
For further information: Jason Simpson, President & Chief Executive
Officer; Andrew Bradbury, Vice President, Investor Relations & Corporate Development, www.orlamining.com, info@orlamining.com
CO: Orla Mining Ltd.
CNW 06:10e 31-JAN-23
This regulatory filing also includes additional resources:
ex991.pdf
Orla Mining (AMEX:ORLA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Orla Mining (AMEX:ORLA)
Historical Stock Chart
From Apr 2023 to Apr 2024